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Argentina: Facing the Challenge of Ageing and Social Security

Autor: Banco Mundial
Año: 2007
Resumen: This report, Argentina facing the challenge of ageing and social security, is structured in five parts that follow the introduction and summary of main findings. Part I presents a conceptual framework for decision makers charged with crafting policies for old age income security, and describes the evolution and structure of Argentina's pension institutions. Part II presents the findings of the household empirical analysis using existing surveys and the new data from the ETEEP, including the importance of pensions to household income and poverty, the micro-determinants of coverage, and the viability of other income security strategies for the most vulnerable. Part III focuses solely on policies and programs designed to ensure minimum income and cover poverty in old age, presenting estimates of the fiscal cost of proposals made by the principal actors and stake-holders in the pension reform debate. Part IV examines the main pension policy issues in this debate and places these issues in international context. Part V presents some options for the Government and stakeholders to consider as Argentina enters a more detailed and deliberate phase of defining pension reform.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
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Financial Sector Dimensions of the Colombian Pension System

Autor: Rudolph, Heinz; Cheikhrouhou, Hela; Rocha, Roberto; Thorburn, Craig
Año: 2007
Resumen: This paper provides an assessment of the funded pension system and the quality of the regulatory framework for both accumulation and payout phase. It suggests that the lack of portfolio diversification may contribute in the future to low returns and poor pensions and provides a number of recommendations to expand the opportunities of investments to pension funds. The paper also finds that pension fund administrators are not exploiting the scale economies in certain areas of the business such as collection of revenues and account management, and propose mechanisms to reduce costs and increase efficiency through greater competition. The paper examines the products and options offered at the retirement age, and finds a bias toward the payment of pensions in the form of lump sums and suggests alternatives for improving the availability of other instruments. Enhancements in the regulatory framework of insurance companies are also proposed.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Pensions Panorama: Retirement-Income Systems in 53 Countries

Autor: Whitehouse, Edward
Año: 2007
Resumen: Pensions panorama provides a compendium of facts and analysis that should inform policy making and public debate about retirement-income systems around the world. The section following the introduction sets out a typology: a way of defining and classifying different kinds of pension schemes. It shows which countries have which types of pension schemes, covering all elements of the retirement-income system, including resource-tested benefits and basic pensions as well as public, earnings-related, and compulsory private pension plans. Next, the study sets out the institutional detail: the parameters and rules of different parts of the retirement-income system. The next section presents the core, empirical results: future pension entitlements of today's workers with different levels of earnings from all sources. This section includes the familiar replacement rate indicator: individual pension entitlements as a proportion of individual earnings when working. The following section explores the important role that personal income taxes and social security contributions play in determining the relative incomes of older people. In particular, it shows net replacement rates (that is, pension net of taxes and any contributions, relative to earnings, net of taxes and contributions). The third section on empirical results looks at the link between pension entitlements in retirement and earnings in work. This analysis highlights the key differences in philosophy between different countries' retirement-income systems. Moreover, changes to the pensions-earnings link have been central to many recent reforms to retirement-income regimes. The concluding section sets out a number of dimensions in which the pension systems of 53 countries differ.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Libros
Idioma:

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Public Pension Reform: A Primer

Autor: Jousten, Alain
Año: 2007
Resumen: The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on annuitization and risk-taking in the economy. Our discussion signals some inadequacy of the proposed measures with respect to the goals of viability of the system and individual financial security during retirement.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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From Red to Gray: The "Third Transition" of Aging Populations in Eastern Europe and the Former Soviet Union

Autor: Chawla, Mukesh; Betcherman, Gordon; Banerji, Arup
Año: 2007
Resumen: This report focuses on the challenges that the region's aging countries will now face in having to deal with multiple transitions. It argues that their task ahead, though uniquely daunting, is by no means impossible. Indeed, many of the potential problems can be addressed through sensible and thoughtful policies that can be enacted over the next few years. The only danger likely lies in complacency, in not being proactive in addressing the challenges. This report finds, first, that some of the concerns about aging in Eastern European and Former Soviet countries are probably misplaced. Second, the analysis in the report validates concerns about future fiscal strains in some of the region's aging countries, but finds that many of the drivers of higher future public expenditures are unrelated to aging. This report is particularly focused on the future-a future in the region that is critically dependent on actions that countries and societies take now, and over the next few years. The report sends two central messages, which are analyzed against the different patterns of aging across the region. Red light to green light: Growing older does not have to mean growing slower. Aging is not a stop sign for growth-if countries enact policies that boost productivity and labor force participation. Red ink to black ink: Waging sensible policies can ease aging's spending impact. The policies needed to manage much of the expected jump in public spending-especially the impacts on pensions and on health care-are well known. They need only to be enacted and implemented.

Fuente: Banco Mundial
Clasificación: Demografía
Tipo de Publicación: Informes
Idioma:

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